RALEIGH, N.C., May 8, 2024 – American Clinical Research Services (ACRS), a leader in complex clinical research formed by Latticework Capital Management (LCM) in 2022, is pleased to announce the successful acquisition of Elixia, a distinguished multi-specialty clinical research network with operations spanning Florida, Massachusetts, Michigan, and Missouri. Elixia has carved a niche in tackling intricate clinical challenges across nephrology, neuroscience and infectious diseases, with a notable specialization at its 40 bed Phase I unit in Tampa, Florida, focused on renal and hepatically impaired patients.
Founded in 2019 by Neal Patel and Jim Crissy, Elixia has rapidly ascended to become a leading clinical trial site network in trials involving specialty patient populations, particularly in nephrology. Building on this foundation, Elixia extended its expertise to encompass neurosciences and infectious diseases, further cementing its reputation in these critical and complex areas of medicine.
Dustin Owen, CEO of ACRS, stated, “The integration of Elixia not only broadens our capabilities in nephrology but also enhances our collective expertise in neuroscience and allows us to multiply our sites capable of conducting complex metabolic indications. Elixia’s presence in multiple states enhances our ability to access a diverse range of participants across the nation, beyond our current footprint of Southern California and Texas, enriching the breadth and depth of our research endeavors.”
Neal Patel, co-founder of Elixia, commented on the acquisition, emphasizing the synergistic potential of the combined entities. “Joining forces with ACRS amplifies our shared commitment to advancing research in challenging therapeutic areas. This union augments our resources, expands our site capabilities and enhances our ability to launch and sustain studies that promise to dramatically improve patient outcomes.”
On a combined basis, ACRS operates 12 sites across the country, with a focus on complex therapeutic areas and diverse patient populations. Coupled with unique patient recruitment capabilities, ACRS provides sponsors and CROs comprehensive patient recruitment and trial execution services.
McGuireWoods LLP represented ACRS and Latticework in the transaction.
About ACRS
ACRS is an industry-leading clinical research entity, linking a vast network of multi-site clinical research facilities with a global patient recruitment operation. With sites in California, Florida, Massachusetts, Missouri, Michigan, and Texas, ACRS conducts Phase I-IV studies, addressing complex conditions in metabolic health, nephrology, neuroscience, and infectious diseases. ACRS is renowned globally for its technological prowess, which enhances efficiency in patient acquisition and offers critical health outcome data that provides invaluable insights to sponsors worldwide.
About LCM
Headquartered in Dallas, TX, Latticework is a growth oriented private equity firm focused exclusively on making control equity investments in the healthcare industry. LCM has completed more than 130 transactions across a diverse array of healthcare subsectors and currently has more than $550 million in assets under management. LCM leverages its more than 100 combined years of healthcare and investing experience, as well as its network of industry executives, to help companies scale and realize their full long-term value. For more information, please visit latticeworkcapital.com.